Looking at the profit matrix we are on track for a NPAT of about 24 million which works out at 7.7 cents a share.
Disappointing to me when the GRM is "at the top end of its historical margin range"
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Looking at the profit matrix we are on track for a NPAT of about 24 million which works out at 7.7 cents a share.
Disappointing to me when the GRM is "at the top end of its historical margin range"
Well, to put that into perspective ... last year GRM was above $9 (and capped) - and while it is looking reasonable now ($6.20), its was not in the first half of the year (less than $2 in March / April).
The other thing to consider is obviously the currently high USD. Not sure, though we should hope for it coming down anytime soon ... unless the US goes for Trump ;);
Meaning - things could be much better if the stars start to align again ... question is just when this might be.
looks like sp has bottomed out ..
http://www.bloomberg.com/news/articl...uyers-squeezed
Interesting article with some good graphs in it. Basically says that refining margins are squeezed. Current Singapore Complex margin is at $5.40ish according to this link and with the NZR uplift of around $4/bbl on top of that it means things are getting pretty close to CAP again.
I for one am pretty happy that NZR has got the uplift over Sing Complex. It wont be the result of last year but it wont be bad either.
im still thinking 30- 40mil npat for the full yr , margins improved last mth but still to much inventories around the world to get back to really good levels yet
https://www.nbr.co.nz/article/nz-ref...-unit-b-195387
might offer a new revenue stream if they expand it into other industries?
"No longer for sale" usually means either that no one wants to buy it or that the price offered is inadequate. Let's hope that neither is the case here.
I think its more of a case of looking at what work IPL did for the refinery and how much that work would cost the refinery if they sold it off or outsourced it to a third party. Very sensible decission to keep it part of the refinery and I am pretty sure that ipl is going to be a profitable little unit with future things in the pipeline. I was very suprised to see that NZR was looking to flick IPL off and thank god that the current GM didnt get his way on this one.
Another article that suggests there might be reasonable margins for the Sept/Oct period: http://www.koreatimes.co.kr/www/news...23_216377.html
Quote:
The Singapore gross refining margin applied to Korean companies (edit. Wonder if that is largely similar to what NZR uses?) stood at $7.40 a barrel late last month.